Pratt Engine-Delivery Miss Dims United Technologies’ Profit Gain
- Shipments of new GTF jet turbines fall short of forecast
- Parent company stands by total growth targets for 2017, 2020
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Pratt & Whitney fell short of its target for deliveries of a critical new jet engine last year, dulling the shine from rising fourth-quarter profit at parent company United Technologies Corp.
The manufacturer handed over 138 geared turbofans during the year, Gregory Hayes, United Technologies’ chief executive officer, said Wednesday. Pratt had been hoping to deliver 150 engines, which power planes made by Airbus Group SE and Bombardier Inc., after cutting the target from 200 earlier in the year.